Vietnam Beverage

ThaiBev kept at 'buy' given worst is over for alcohol demand, says RHB

SINGAPORE (Jan 18): RHB is reiterating its “buy” call on Thai Beverage (ThaiBev) with a higher target price of 85 cents, from 75 cents previously.

This came following the group’s loan restructuring with Vietnam Beverage, which means ThaiBev now owns 53% of Sabeco, the largest brewery in Vietnam.

ThaiBev kept at 'buy' ahead of consumption recovery

SINGAPORE (Mar 5): OCBC Investment Research is keeping its “buy” call on Thai Beverage ahead of an anticipated recovery in consumption for the rest of FY18.

This comes despite ThaiBev’s 1Q18 results coming in below expectations, and an elevated gearing ratio following the group’s recent acquisition spree.

ThaiBev saw its earnings fall 62% to THB2.91 billion ($122 million) in the 1Q ended December, mainly due to one-off expenses of THB2.35 billion related to acquisitions in this quarter and finance costs linked to the Sabeco acquisition.

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